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Saturday, December 01, 2007

India to buy 347 T-90 tanks for Rs 4,900 cr

Despite Russia's propensity to squeeze more money out of India in ongoing arms contracts, it continues to maintain its stranglehold over the huge market here. India inked yet another massive contract with Russia on Friday, worth a whopping Rs 4,900 crore, to import another 347 T-90S main-battle tanks.

These 347 tanks will be in addition to the 310 T-90S tanks already imported by India, at a cost of over Rs 3,625 crore, under a February 2001 contract.

Moreover, the Heavy Vehicles Factory at Avadi has already commenced the planned production of another 1,000 T-90S tanks under transfer of technology from Russia.

Defence ministry sources said that while 124 tanks under the new agreement will be imported in "fully-formed condition", the rest 223 will come in "semi-knocked down condition" to be reassembled at Avadi.

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